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Loan guarantee helps ensure compliance with equipment and safety regulations: Rose

A Canadian military C-130 Hercules aircraft is seen on the apron in front of Stephenville airport on Tuesday afternoon.
A Canadian military C-130 Hercules aircraft is seen on the apron in front of Stephenville airport on Tuesday afternoon. - Frank Gale

Eleanor Rose, chair of the board of the Stephenville Airport Corp., said she’s quite pleased with Monday’s announcement in support of the extension of a provincial loan guarantee for the airport.

In the House of Assembly on Monday, the Lieutenant-Governor in Council authorized the Minister of Finance to extend the provincial guarantee of the corporation’s bank line of credit in the amount of $900,000, to March 31, 2019.

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The airport corporation, like other businesses, does have an operating line of credit.

“In our situation, it assists us in ensuring compliance with infrastructure, equipment and safety regulations for our employees and passengers traveling to and from our airport,” Rose said.

Rose said Stephenville airport is also a strategic player in the aviation industry of Newfoundland and Labrador, providing alternate designations for regional, national and international travel.

She said Stephenville airport, with substantially less air traffic, has the same regulations and requirements as a larger airport so they appreciate any support they get from municipal and provincial governments.

Rose said the extension of their loan guarantee demonstrates government’s commitment to the people of Bay St George and is recognition of the importance of the economic impact of Stephenville airport.

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